Banks and credit unions can only charge you overdraft
fees on one-time debit card transactions and ATM withdrawals if you “opt in.”
Learn more about the opt in choice, and steps you can take to reduce or
eliminate overdraft fees on your checking account.

Lately, we’ve received questions from people wanting to know what these chips are and how they work. As a new federal agency, we’re committed to providing you with trustworthy information about consumer financial products—including bank accounts and credit cards. Here are a few things you should know about chip technology.

Today, we’re releasing a report that looks at deals between financial institutions and colleges to market credit cards to students. This year we found that there are fewer schools marketing credit cards, and those that do are not making their agreements with credit card companies readily accessible to students.

Many college students receive scholarships, grants, and student loans to help them pay rent, get to and from school, and cover other costs, like textbooks. We issued this consumer advisory to help students better understand their options when it comes to managing their scholarships and student loans. Learn more about accessing your funds.

Today, we’re launching an initiative on student cards and bank accounts and we want your input. We’ve published a Notice and Request for Information Regarding Financial Products Marketed to Students Enrolled in Institutions of Higher Education in the Federal Register. The title might sound a little formal, but the reality is simple: we want to hear from you.

The Consumer Financial Protection Bureau is issuing a consumer advisory today to all students expecting to receive scholarship and student loan proceeds onto – what appears to be – a school-endorsed debit card. We are also asking consumers to tell us about their experiences getting their financial aid funds. Yesterday, the Federal Deposit Insurance Corporation, […]